In the News
Cypress News, Articles & Announcements
Want to follow Cypress Benefit Administrators in the news and see what this TPA has been up to? Check out the following articles.
- Out-of-Network & Medical Necessity Reviews among Top Ways TPA Identifies Significant Medical Claim Savings
(As seen on BioPortfolio, News OK and other major media websites)
News Release – December 17, 2014
Cypress and its Argus Claim Review division uncovered more than $6 million in savings on behalf of employer-clients last year. In analyzing all of the results from its assessment process, Argus found that out-of-network and medical necessity reviews were among the most common ways to identify savings on medical claims. Read more.
- TPA Keeps Annual Medical Plan Cost Increase to an Average of 1.3% for its Employer-Clients
(As seen on International Business Times, The Miami Herald and other major media websites)
News Release – November 21, 2014
After releasing its latest employer medical plan cost comparison online, Cypress Benefit Administrators demonstrates its continued success in containing employee benefit expenses year after year. The TPA reports an average plan cost increase of just 1.3% for 2013 compared to a 6.4% average increase nationally. Read more.
- TPA Finds Major Discrepancies in Hospital Billing Patterns, Saves Clients a Combined $120,000+ in New Case Study (As seen on JS Online/Milwaukee Journal Sentinel, LA Daily News and other major media websites)
News Release – October 28, 2014
In a recent case study, Cypress and its Argus Claim Review division show how careful analysis of medical claims can significantly contain costs. The TPA shares how two very similar cases were charged quite differently and how catching and addressing the overcharges in hospital billing led to a combined savings of $120,000. Read more.
- Third Party Administrator Introduces Video Series on Cost Containment Strategies for Employee Benefits (As seen on Worth Magazine, StarTribune and other major media websites)
News Release – October 14, 2014
Based on information-packed presentations from Cypress University 2014, Cypress Benefit Administrators recently added a new video series to its website that covers cost containment strategies for employee benefit plans. The topics covered focus on self-funded plans and range from telemedicine and dialysis cost control to stop loss insurance and employee wellness programs. Read more.
- Patient-Doctor Visits Continue to Evolve with Innovative Telemedicine Services Offered through Third Party Administrator (As seen on The Boston Globe, Pittsburgh Post-Gazette and other major media websites)
News Release – September 4, 2014
Through a partnership with Teladoc, Cypress Benefit Administrators offers its employer-clients state-of-the-art telemedicine services that feature 24/7 access to physician consultations in non-emergency situations. These patient-doctor visits are done by phone or video using the latest technology and provide users a new level of convenience and flexibility while limiting many of the extra expenses associated with urgent care. Read more.
- Third Party Administrator Forms Proactive Partnership to Help Protect Members from the Costly Consequences of Medical Identity Theft (As seen on the Lexington Herald-Leader, International Business Times and other major media websites)
News Release – July 28, 2014
Medical identity theft (MIT) has become the fastest-growing form of identity-related crimes in the United States with nearly two million people affected by it in 2013 and associated costs reaching more than $40 billion. Cypress Benefit Administrators has partnered with ICR Bridge to take a proactive approach to this problem and offer its members state-of-the-art MIT resolution services. Read more.
- TPA Helps Employers Understand Common Documentation Requirements as the Number of DOL Health Plan Audits Increases (As seen on Insurance News Net, NewsOK and other major media websites)
News Release – June 19, 2014
With the number of Department of Labor (DOL) health plan audits on the rise, Cypress Benefit Administrators serves as a resource in helping employers better understand the different types of documentation commonly reviewed in assessments. The third party administrator (TPA) shares information on documents related to administrative recordkeeping, the Affordable Care Act, HIPAA and more. Read more.
- TPA Finds Ineligible Employee Coverage to be a Frequent Problem Cited with Health Benefit Plans & Provides 10 Tips for Employers to Avoid the Resulting Claim Costs (As seen on The Miami Herald, Anchorage Daily News and other major media websites)
News Release – May 29, 2014
Cypress Benefit Administrators explains how ineligible employee coverage has become a growing issue with health benefit plans and how it can affect employer-clients through costly claims. The third party administrator also shares 10 best practice tips for managing the details related to employee and dependent coverage. Read more.
- TPA Hosts Successful Cypress University 3.0 and Introduces Next Generation Solutions for Cost Control in the Self-Funded Industry (As seen on LA Daily News, The Kansas City Star and other major media websites)
News Release – April 17, 2014
Held in Las Vegas for the third consecutive year, Cypress University 3.0 – the annual cost containment conference from Cypress – was presented to a full crowd April 14-15. Nearly 200 attendees took part in a variety of keynote presentations and interactive panel sessions as the TPA introduced several next generation solutions for controlling the expenses of employee benefits. Read more.
- Cypress University 3.0 Kicks Off in Las Vegas, Conference to Cover Latest Cost Containment Strategies in Employee Benefits (As seen on International Business Times, The Boston Globe and other major media websites)
News Release – April 14, 2014
Back in session for the third year, Cypress University 3.0 kicked off in Las Vegas today with an all-new venue, schedule and line-up of presenters. The popular conference focuses on next generation solutions and strategies for cost containment in self-funded employee benefits. Read more.
- Wisconsin-Based Third Party Administrator Earns Better Business Bureau Accreditation and Achieves A+ Rating (As seen on JS Online/Milwaukee Journal Sentinel, Worth Magazine and other major media websites)
News Release – March 27, 2014
Serving employer-clients in all 50 states, Cypress Benefit Administrators’ Appleton headquarters recently received accreditation from the Better Business Bureau (BBB) of Wisconsin. The third party administrator also earned an A+ rating from the BBB organization. Read more.
- Employee Benefits Administrator Helps Employers Make Sense of Recent Deadline Changes to “Pay or Play” Portion of Affordable Care Act (As seen on Insurance News Net, The Boston Globe and other major media websites)
News Release – February 20, 2014
With more deadline changes to the shared responsibility (“pay or play”) requirements recently announced, Cypress Benefit Administrators continues to serve as a resource for employers affected by the Affordable Care Act. Cypress breaks down the timing set forth by the IRS as it relates to company size and offers other helpful details on the final ruling. Read more.
- TPA Investigates Health Claim & Saves Client Over $15,000 on Surgery Billed at 700% More than Allowable Amount (As seen on Digital Media Wire, Sign On San Diego and other major media websites)
News Release – January 30, 2014
Cypress Benefit Administrators and its Argus Claim Review Division released a new case study that shows the importance of diligent health claim review. In this example, the client saved over 71% on an emergency appendectomy that a hospital originally billed at over $21,000. Read more.
- Employee Benefits Administrator Offers Guidance on New “Use-or-Lose” Rule Alternative as it Relates to Health FSAs
(As seen on the Miami Herald, Worth Magazine and other major media websites)
News Release – December 10, 2013
Now that the IRS’s “Use-or-Lose” rule option is in effect, Cypress is helping employers understand how it relates to their health FSAs. The employee benefits administrator offers guidance on how the new carryover alternative can be applied to cafeteria plans as well as clarification about the existing grace period option. Read more.
- President of Employee Benefits Advisory Firm Leads Eye-Opening Workshop on Cost Control at National HR Conference
(As seen on Indianapolis Business Journal, International Business Times and other major media websites)
News Release – November 19, 2013
Tom Doney, president of Cypress, recently presented at the Northwest Human Resource Management Association’s annual conference in Washington. He led a workshop focused on ways employers and HR professionals can contain rising employee benefit costs at their workplace. Read more.
- National Employee Benefits Advisor Welcomes New Regional Sales Manager to Omaha Office (As seen on Pittsburgh Post-Gazette, Insurance News Net and other major media websites)
News Release – October 30, 2013
Julie Kohanek, RHU, has joined the Omaha location of Cypress Benefit Administrators as the regional sales manager. She will oversee the business development efforts and sales and marketing strategy for the TPA’s Midwest territory of Nebraska, Iowa, Kansas and South Dakota. Read more.
- Third Party Administrator Walks the Talk as it Receives Gold Well Workplace Award & Joins Ranks of “America’s Healthiest Companies” (As seen on The Boston Globe, LA Daily News and other major media websites)
News Release – September 10, 2013
A Gold Well Workplace Award winner, Cypress Benefit Administrators recently joined the list of “America’s Healthiest Companies.” The Wellness Council of America and its Wellness Council of Wisconsin affiliate recognized the Wisconsin-based TPA for its exemplary efforts related to workplace health. Read more.
- Wisconsin-Based Employee Benefits Administrator Makes Annual Inc. 500|5000 List & Named a Top 100 U.S. Insurance Company for Growth (As seen on Google Finance, JS Online/Milwaukee Journal Sentinel and other major media websites)
News Release – August 29, 2013
Cypress Benefit Administrators was recently named to Inc. magazine’s 2013 Inc. 500|5000 list. The TPA received honors for overall growth, including a rank of #38 among Top 100 Insurance Companies in the U.S. and #65 for Top 100 Wisconsin Companies. Read more.
- Wisconsin-Based Third Party Administrator Receives Business of the Year Award for Outstanding Performance (As seen on BioPortfolio, Pasadena Star-News and other major media websites)
News Release – July 16, 2013
Honored for its outstanding business performance, Cypress Benefit Administrators received a 2013 Business of the Year Award from the Fox Cities Chamber of Commerce & Industry. Read the full story.
- TPA Continues to Keep Annual Employee Benefit Cost Increases to a Minimum without Sacrificing the Level of Quality (As seen on International Business Times, Santa Cruz Sentinel and other major media websites)
News Release – July 9, 2013
Cypress Benefit Administrators shares how it has successfully kept employee benefit plan rate increases well below the national average for the last five years with examples for balancing cost and quality. Read the full story.
- TPA Hosts Second Successful Conference Focused on Containing the Spiraling Costs of Employee Benefits in the Self-Funded Insurance Industry (As seen on CBS Money Watch, Kansas City Star and other major media websites)
News Release – May 24, 2013
With over 150 employer-clients, brokers and prospects in attendance, Cypress Benefit Administrators hosted the second annual Cypress University in May. Presentations focused on the latest innovations and ideas for controlling the costs of employee benefits in the self-funded insurance industry. Read the full story.
- Conference on Cost Containment in Health Benefits Returns After Successful First Year, Kicks off in Las Vegas This Week (As seen on Market Pulse, The Sacramento Bee and other major media websites)
News Release – May 13, 2013
The second annual Cypress University returns to Las Vegas this week with experts in the self-funded insurance industry set to present. During the three-day conference, employer-clients, brokers and prospects will learn about ways to control the rising costs of employee benefits. Read the full story.
- Telemedicine Brings Patient-Doctor Interaction to a Whole New Level, Eliminates Up to 66% of Unnecessary In-Office Doctor Visits (As seen on Industrial Info Resources, Sign On San Diego and other major media websites)
News Release – April 30, 2013
Cypress Benefit Administrators shows how new features in telemedicine – email and mobile access to video chat technology – have made it easier for members to connect with physicians 24/7 and receive timely care. Read the full story.
- TPA Keeps Cost Increases Below the National Average for Fifth Consecutive Year by Offering Customizable Employee Benefit Plans (As seen on SmartBrief, Yahoo! News and other major media websites)
News Release – March 28, 2013
As health insurance costs continue to skyrocket across the U.S., Cypress Benefit Administrators has been able to keep its employer clients’ rate increases well below the national average for the fifth straight year. The TPA shares the numbers for 2012 and shows how customizable employee benefits are helping contain costs. Read the full story.
- Diligent Health Claim Review Service Goes Beyond Obvious Overcharges and Finds Issues with Medical Necessity (As seen on The MiamiHerald, Digital Journal and other major media websites)
News Release – February 26, 2013
Cypress Benefit Administrators shows how its Argus Claim Review division is actively watching for medical necessity discrepancies on consumer health claims to identify costly overcharges. Read the full story.
- Businesses Band Together through Group Captive Insurance Programs to Achieve Cost Containment in Healthcare (As seen on LA Daily News, The Cincinnati Enquirer and other major media websites)
News Release – November 28, 2012
By pooling their collective risk, businesses throughout the United States are finding that group captive insurance structures like CypressCap offer significant savings potential and the ability to contain healthcare costs. Read the full story.
- Health Care Reform an Unfolding Story: Health Plan Adviser Explains Possibilities (As seen in the Appleton Post-Crescent and on postcrescent.com)
Fox Valley Inc. Business Section Cover Story – November 21, 2012
Now that President Barack Obama has won re-election, the nation is waiting to see how the Patient Protection and Affordable Care Act will affect the health care industry and consumers. Tom Doney, president of Cypress Benefit Administrators, Grand Chute, which helps businesses set up health plans, offered his insight on the possibilities. Read the full story.
- Customized Employee Benefits will Remain Key to Cost Containment in Healthcare after Election (As seen on JS Online/Milwaukee Journal Sentinel, Times Union (Albany, NY) and other major media websites)
News Release – October 25, 2012
Regardless of the presidential election outcome, one thing is certain for the future of healthcare: self-funded insurance and customizable employee benefits will continue to be a focus as employers look for ways to contain costs. Read the full story.
- Captive Insurance Experiences Growth in Employee Benefits Industry, Provides Long-Term Savings to Employers (As seen on Newsday, the International Business Times and other major media websites)
News Release – September 26, 2012
As captive insurance structures become a more popular form of risk transfer in the employee benefits industry today, Cypress Benefit Administrators announces the launch of CypressCap – a group captive program. Read the full story.
- Cypress Benefit Administrators and PH Tech Announce Strategic Partnership in the TPA Industry (As seen on Insurance News Net, The News Tribune of Tacoma-Seattle and other major media websites)
News Release – August 24, 2012
After forming an alliance with an Oregon-based TPA leaving self-funded benefits administration, Cypress Benefit Administrators is working to seamlessly transition customers over to its claim system. Read the full story.
- Cost Analysis Shows How Customizable Employee Benefit Plans Have Led to Cost Containment in Healthcare (As seen on The Boston Globe, The Miami Herald and other major media websites)
News Release – June 29, 2012
By offering customized employee benefit plans, Cypress Benefit Administrators has been able to slow annual premium increases on behalf of its clients throughout the United States. The third party administrator (TPA) completed a five-year cost analysis and shares highlights from its ongoing cost containment efforts. Read the full story.
- 24/7 Access to Talk to a Doctor and Other Reasons Why Telemedicine is On the Rise (As seen on Yahoo! News, The Denver Post and other major media websites)
News Release – April 30, 2012
With U.S. consumers looking for more flexibility than a visit to the doctor’s office typically allows, telemedicine is becoming a popular option. Cypress Benefit Administrators shows how its clients have been receptive to these over-the-phone services because of their convenience, cost-effectiveness and around-the-clock accessibility. Read the full story.
- As Healthcare-Billing Fraud Escalates, Argus Ramps Up Watchdog Efforts (As seen on CBS MoneyWatch, The Houston Chronicle and other major media websites)
News Release – January 18, 2012
Healthcare-billing fraud continues to create extra expenses for consumers across the United States. Cypress Benefit Administrators shows how Argus Claim Review is working to catch and correct these costly errors. The TPA also provides five tips for employers to use to avoid overpaying medical claims. Read the full story.
- Cypress Acquires Western Benefits, Inc.
News Release, February 3, 2011
- Appleton-Based Cypress Benefit Administrators Marks 10th Anniversary, Continued Company Growth
News Release, December 10, 2010
- Omaha’s Cypress Benefit Administrators Marks 10th Anniversary, Continued Company Growth
News Release, December 10, 2010
- Cypress Benefit Administrators’ CEO Offers Key Healthcare Cost-Containment Testimony at U.S. Dept. of Labor Hearing
News Release, December 7, 2010
- Cypress CEO Shares Healthcare Cost-Containment Strategies at State SHRM Conference
News Release, October 11, 2010
- Cypress Solution is Saving Employers Money, and Businesses Across the Country Are Taking Notice
Cover story article, Company Magazine, February 2010